Stocks Stumble Late Despite Wall Street Optimism

The S&P 500 and Nasdaq finished marginally lower today

Managing Editor
Nov 29, 2023 at 4:29 PM
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Stocks gave back sizable gains today, with the Dow eking out a marginal win despite trading up over 200 points at its session highs. The S&P 500 and Nasdaq, meanwhile, finished in the red after spending most of the day above fair value.

Despite the late-afternoon pivot ahead of a historically bullish month, all three major indexes earlier came within a chip-shot of their mid-summer annual peak. Investors spent the day unpacking a trifecta of positive headlines; upbeat gross domestic product (GDP) readings, falling bond yields, and dovish commentary from a Fed president. 

  • Why auto stocks got a lift today.
  • Steer clear of this struggling retail stock.
  • Plus, casino stock lags behind; a PHM 'buy' signal; and an earnings winner.
 

closing summary nov29

nyse nasdaq nov29

5 Things to Know Today

    1. Another Fed President is pleased with the interest rate policy. (MarketWatch)
    2. The United Nations' Climate Change Conference starts tomorrow. (Reuters)
    3. Casino stock ceded a key trendline today.
    4. Signal: buy calls on this homebuilder stock.
    5. Options bulls cheer NetApp earnings.

    Earnings Nov29

    UVOL Nov29

    Commodities on the Rise

    Oil prices stayed hot ahead of tomorrow's output decision from the Organization of the Petroleum Exporting Countries and its Allies (OPEC+). West Texas Intermediate (WTI) crude added $1.45, or 1.9%, at $77.86 a barrel.

    Gold prices climbed toward 2020 highs, extending their torrid pace. As of this writing, February gold futures are up 0.2% to trade at $2,067.10 an ounce. 

     

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